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- 1. Multiple Choice
What can a business sell?
goods
services
goods and services
- 2. Multiple Choice
Who is an entrepreneur?
someone who works for a large company
someone who studies business in University
someone who starts their own business
- 3. Multiple Choice
Jane has to pay for many services and buy multiple goods every month. She has a lot of...
...profit
...loans
...money
...expenses
- 4. Multiple Choice
Items that can be seen and touched are known as...
Goods
Services
- 5. Multiple Choice
People who are part owners of a company are known as...
Stakeholders
Shareholders
Customers
People
- 6. Multiple Choice
Trading one good or service for another is called
trade
services
barter
scarcity
- 7. Multiple Choice
Bringing in goods or services from another is country
exports
imports
donates
- 8. Multiple Choice
The United States sells airplane parts to the country of Kenya. This is an example of an ______________
import
export
donation
- 9. Multiple ChoiceImport meansbuying goods from another countryselling goods to another countryonly making one kind of product
- 10. Multiple ChoiceExport meansbuying goods from another countryselling goods to another countryonly making one kind of product
- 11. Multiple ChoiceTo focus on producing one thing to improve productivity is known as:SpecializationInternational tradeAbsolute AdvantageSupply and Demand
- 12. Multiple Choice
Jamaica sells bauxite to the USA which best describes Jamaica’s action?
Monopoly
Import
Export
Innovation
- 13. Multiple Choice
Foreign Trade only happens between countries.
True
False
- 14. Multiple Choice
Furniture and medical glove manufacturing are classified under which industries?
Primary
Secondary
Tertiary
None of the above
- 15. Multiple Choice
Identify the activity which does not support trade?
Transportation
Warehousing
Advertising
Coal Mining
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